MedX Health Corp announced a private placement of Secured Convertible Debenture for gross proceeds of CAD 1,500,000 on January 30, 2023. The transaction will include participation from returning investor Forest Lane Holdings Limited. Interest will be payable at 8% per year, payable Quarterly.

The Convertible Debenture will be secured by a fixed and floating charge over all assets and undertaking of the Borrower, will have a Term expiring on December 31, 2027 and will be subject to customary provisions in the event of default. Acceptance by the TSX Venture Exchange and any other relevant regulatory or other consents and approvals. The Debenture will be convertible into Units at the option of the Lender.

Each Unit shall comprise one common share and one share purchase Warrant. The Conversion Price shall be CAD 0.05 per Unit, provided that if the Conversion Right is exercised after November 18, 2023, then the Conversion Price for the remainder of the Term shall be CAD 0.10 per Unit. The Exercise Price of Warrants comprised in Units issuable on Conversion shall be CAD 0.20.

Any securities issued or issuable will be subject to a four month hold period from the original issue date of the convertible debentures.